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Moody's issued the following press release yesterday in relation to Argentina's foreign-law sovereign obligations.

The shareholders and subordinated bond holders of SNS Reaal are now fighting an alleged expropriation at the Dutch Council of State. In addition, these stakeholders are contesting the Dutch government's position that shareholders and…

Yesterday, I wrote why a US fiscal standoff should mean recession in Q2. As an adjunct to that, I wanted to add a few words about the political process on how we get the standoff to a government shutdown and recession.

Last Tuesday I said then that the debt ceiling fight would come first but that default on US public debt would be a step too far - and so Republicans would capitulate, forcing them to put their efforts into the sequester cuts. The biggest…

As we face another brutal fight over the federal debt ceiling at a time when the economy still remains fragile, the stock market is oddly complacent. Even if the debt ceiling crisis is resolved, the result would be some combination of…

Last year, I started my weekly newsletter out with Ten Surprises for 2012. The goal was to give you a list of things that investors only assigned one in three odds of occuring that I believed had a fifty percent or better chance of…

I just wanted to follow up on Randy Wray's last post to look at this Trillion Dollar Coin idea from an investing perspective. I believe the coin would be bullish for Treasuries because it lowers average Treasury duration and alters private…

The explosive market rally following the fiscal cliff agreement was based more on what didn't happen than what did. What didn't happen was the implementation of automatic tax increases and spending cuts that would have shaved about 5% off…

As the New Year begins, there are four events that are creating significant headwinds for the US economy. There has been a lot of talk about the fiscal cliff in the press but behind this is the debate over the US debt ceiling, which will be…

This week's second weekly-length post is just another review of the Price Waterhouse Coopers study that is big news in the German press. I have now seen the numbers in a bit more granular detail and I wanted to run through them for me…